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(1)Section 15 of LSA 2000 (plans of the Council) is amended as follows.
(2)In subsection (1)(a), for “each of its financial years” substitute “each academic year”.
(3)Omit subsection (2).
(4)In subsection (3), for “any subsequent financial year of the Council” substitute “an academic year”.
(5)In subsection (4)—
(a)for “a financial year” substitute “an academic year”, and
(b)in paragraph (a), for “the financial year” substitute “the academic year”.
(6)After subsection (4) insert—
“(5)In this section “academic year” means—
(a)the period starting with the 1 April following the date on which section 8 of the Further Education and Training Act 2007 comes into force and ending with the second 31 July following that 1 April;
(b)each successive period of 12 months.”
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